Post by
tickerhit on Apr 12, 2023 2:09pm
MONTHLY PROGRESS REPORT for the Month of MARCH
Provide a general overview and discussion of the activities of management.
Management is actively evaluating new opportunities both in Newfoundland and in other jurisdictions, including Kansas.
The Company entered into an agreement with Shelby Resources regarding three plays in Pratt County, Kansas. Shoal Point is participating as to a 6.5% working interest and has now drilled 6 wells of which 1 was abandoned. The first well is shut in awaiting hookup to a gas pipeline. The second well is flowing oil on pump. Third to fifth wells are undergoing completion and production testing. Most of December was inactive due to extreme weather. January had limited windows for completion work due to weather. Weather continued to be a problem in February, but at the end of March the gas pipeline was completed and awaiting pressure testing by the pipeline operator.